Economic Development
He now devotes his efforts to business initiatives that aim to produce both social and shareholder value.
In 1995, Wilhelm returned to Chicago and focused on building a successful career in business He soon joined forces with Kevin Conlon, a prominent labor lawyer and Democratic activist who shared David's vision. The two became business partners, deciding to use their decades of experience in government, politics, finance, and labor to help others succeed in the public arena. Together they founded Wilhelm & Conlon Public Strategies (now Conlon Public Strategies) in 1998. In 1999, Wilhelm became a pioneer in impact investing when he founded one of the nation's first New Markets Venture Capital Company, Woodland Venture Management, and launched two venture capital funds that invest in businesses located in economically challenged parts of Central Appalachia and the Great Lakes region. Adena Ventures, Wilhelm’s first fund demonstrated that attractive investment opportunities exist in unexpected places. Adena has invested in companies such as Ed Map, which creates software tools for consolidating, managing and distributing learning resources and is located in Nelsonville, Ohio. Another portfolio company, DFW Furniture, is a successful retailer in the Appalachian region.
Building on Adena’s success, Wilhelm launched a second fund, Hopewell Ventures, focused on the Midwest. Their portfolio includes National Pasteurized Eggs, a Lansing, Illinois based company that produces pasteurized whole, in-shell eggs under the Davidson's Safest Choice Eggs brand. Another company, INRange Systems, Inc., headquartered in Altoona, Pennsylvania has developed the first and only FDA cleared Remote Medication Management System, which provides detailed, documented, professionally managed medication administration for returning veterans. iTRACS is another portfolio example which helps optimize data center performance and reduce energy consumption and costs.
In addition to Adena Ventures and Hopewell Ventures, Wilhelm is a founder of a newly-created Ohio Appalachian Business Council and in 2010 served as co-chair of a successful statewide campaign in support of the Ohio Third Frontier. He is co-chair of the advisory council for the Voinovich School for Leadership and Public Affairs at Ohio University, a board member of the National Association of Seed and Venture Funds and Jump Start, and a director of two privately held companies, iTRACS and DFW Furniture.
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